Absa has informed clients that it will upgrade its security in the coming weeks to make online banking \u201ceven safer.\u201d<\/p>\n
It stated that users do not need to re-register, and that none of their login details or other credentials will change.<\/p>\n
\u201cCybercriminals employ increasingly sophisticated methods to access customer Internet banking information through email phishing, SIM swaps, and other methods,” said Absa’s\u00a0chief executive for customer channels\u00a0Marius de la Rey.<\/p>\n
De la Rey told MyBroadband that Absa has invested heavily in a comprehensive and robust suite of information protection measures. It is also rolling out enhanced security to its customers using smartphones to transact, he said.<\/p>\n
Further details about the security upgrades are expected to be revealed in the coming weeks.<\/p>\n
\u201cCybercrime is an industry-wide issue that can only be successfully minimised through vigilance by banks, cellphone providers, and customers alike,\u201d said de la Rey.<\/p>\n
Online banking attacks using SIM-swap fraud and phishing are a problem for local banks and network operators, with\u00a0the South African Banking Risk Information Centre (Sabric) warning that fraudsters have started using more direct forms of social engineering to attack victims.<\/p>\n
Dubbed vishing, Sabric said that instead of only sending phishing emails, attackers now phone victims and try to trick them into giving up their private information.<\/p>\n
“If you receive a phone call requesting confidential or personal information, do not respond and end the call,” said Sabric.<\/p>\n
It warned that if you lose mobile connectivity under circumstances where you are usually connected, you must check whether you have been the victim of a fraudulent SIM swap.<\/p>\n
Receiving a one-time-PIN on your phone without conducting any online transactions should also raise red flags.<\/p>\n
“Contact your bank immediately to alert them to the possibility that your information may have been compromised,” said Sabric.<\/p>\n
Absa has informed clients that it will upgrade its security in the coming weeks to make online banking \u201ceven safer.\u201d<\/p>\n","protected":false},"author":15,"featured_media":172578,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[10106],"tags":[2186,35,19546],"class_list":["post-221703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-absa","tag-headline","tag-south-african-banking-risk-information-centre-sabric"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/221703"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=221703"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/221703\/revisions"}],"predecessor-version":[{"id":221995,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/221703\/revisions\/221995"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/172578"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=221703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=221703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=221703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}